Modernizing Government Technology Act Passes House

The House of Representatives has passed the Modernizing Government Technology Act, which supporters contend should help improve the security of the federal government’s information networks.

The legislation passed May 17 on a voice vote and now goes to the Senate, where its prospects are uncertain.

Should the bill become law, major agencies would create IT capital funds in which they could recover savings from IT modernization initiatives, such as moving systems and data to the cloud, rather than returning the money back to the Treasury. An agency, in theory, that decreases costs by using new technologies or employing cloud services could retain the savings for up to three years if those savings go toward additional IT modernization projects….SOURCE